Malaysia seeks to seize Saudi prince’s overseas assets worth US$115 million
The 1MDB funds are held in several Swiss bank accounts belonging to Turki Abdullah Al Saud
The Malaysian Anti-Corruption Commission (MACC) has filed a court order to forfeit overseas assets belonging to Prince Turki Abdullah Al Saud.
The application to forfeit assets was filed under Sections 56(1), 59 and 61(2) of the Anti-Money-Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Around US$115.3 million held in several Swiss bank accounts is subject to the forfeiture order, including funds in JP Morgan (Suisse) and UBS Switzerland.
MACC chief commissioner Azam Baki confirmed the court application on Sunday.
Previously, in October 2026, the MACC obtained an order to block US$115.3 million in transactions held in three Swiss bank accounts under the name of Prince Turki Abdullah Al Saud.
At the time, the MACC said the move was based on information it received in 2011, alleging that he had received, transferred and used proceeds from the misappropriation of 1Malaysia Development Berhad (1MDB) funds through his bank accounts.